Wednesday, May 15, 2019

AGs ask Congress to ease pot banking

Posted By on Wed, May 15, 2019 at 12:25 PM

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Colorado’s Attorney General Phil Weiser led a bipartisan group of 38 attorneys general in calling for the SAFE Banking Act.

The legislation, sponsored by Rep. Ed Perlmutter, D-Colorado, would allow marijuana-related businesses to access the banking system by prohibiting federal regulators from punishing lenders and banks that work with them.

“For too long, the status quo has pushed legitimate businesses outside the banking system and into cash-dependent models, creating a lucrative target for violent and white-collar crime,” Weiser said in a May 8 statement. 

He added, “The message from the states’ top law enforcement offices is loud, clear, and bipartisan: Congress must act to allow legitimate marijuana businesses access [to] banking services.”

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